The first organization using blockchain technology to support the global funeral industry. Global Funeral Care ICO rating – 66
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PRE ICO Dates : 26/12/18 – 28/02/19
Roadmap: 6/10 Legal: 1/5 ICO terms: 4/5
Team: 14/20 Token applying: 3/5 Promotion: 12/20
About Global Funeral Care ICO (token sale)
The Global Funeral Care Foundation ICO has developed GFC with intend to become a globally used currency for the funeral industry. GFC can be used to pay for goods and services from organizations partnering with the Global Funeral Care Foundation. The foundation encourages all non-partners in the funeral industry to adopt GFC as well.
The Global Funeral Care Foundation ICO is developing a decentralized platform to support the global funeral industry by connecting organizations working in the funeral industry on a global scale. The platform supports organizations involved with the funeral industry and people requesting information or services from these organizations.
The total supply a er the final sale will be 200,000,000 GFC. The circulating supply will be 174,000,000 GFC as result of 26,000,000 GFC being locked to motivate and incentivize the Global Funeral Care Foundation its board of directors, core team, and advisors.
GFC is a Proof of Stake (PoS) currency without hard cap supply. New GFC will be generated to reward holders for maintaining the network and for validating transactions. The holders will be rewarded through Proof of Stake, which is a consensus protocol. The PoS protocol achieves consensus through stakers who validate GFC transactions and create new blocks. The creator of a block will be chosen in a pseudo-random way, depending on how many GFC the staker owns. The collateral to run a Masternode is 60,000 GFC. Significant advantages of PoS include security, decentralization, and energy efficiency.
It will take approximately eight years to generate an additional 170,000,000 GFC through Proof of Stake. This results in a total supply of 370,000,000 GFC by 2026. After the year 2026 yearly 518,000 blocks will be created. Only 1 GFC will be released when creating a new block, which means that yearly 518,000 GFC will be generated through Proof of Stake.
The Global Funeral Care Foundation ICO avoids devaluation of GFC by burning all GFC transaction fees, which means that all GFC used as transaction fees will be destroyed. More transactions means that more GFC will be burned with a lower inflation rate as result.
A er the year 2026 the amount of GFC being burned will be approximately equal to the amount of GFC generated. The supply will become stable and eventually will decrease.
The Global Funeral Care Foundation ICO raises funds via a crowdsale, which means that people have the possibility to purchase GFC before being listed on exchanges.
The Global Funeral Care Foundation ICO uses erc20 tokens (GFCS ICO) for the crowdsale. GFCS owners will be able to obtain mainnet coins by sending the GFCS to the address specified by the Global Funeral Care Foundation once the final sale is finished the swap ratio will be 1:1. The foundation believes that rewarding early adopters will help the Foundation grow faster. Therefore the following bonus structure is made to reward those who choose to purchase GFC during the private sale, pre-sale, and final sale.